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By: Dividend Daily
September 09, 2013 at 09:48 AM EDT
Morgan Stanley Upgrades EOG Resources to “Overweight” (EOG)
On Monday, Morgan Stanley analysts upgraded EOG Resources Inc (EOG), giving the natural gas and oil exploration company a bullish rating as it trades at a discount to its peers.
The analysts also noted that the company is growing inventory and free cash flow. As such, they upgraded EOG to “Overweight” and see shares reaching $200. This price target suggests a 24% upside to the stock’s Friday closing price of $161.72.
EOG Resources shares were up $1.69, or 1.05%, during early morning trading on Monday. The stock is up 34.78% year-to-date.
The Bottom Line
EOG Resources Inc (EOG) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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